Tuesday, 01 Nov 201
Endocoal has upgraded the resource for the Rockwood coal project in the Bowen Basin by 505% to 312.5 million tonnes, in what could turn out to be a company making project.
Endocoal has one of the largest landholdings in the Bowen Basin region, with 11 tenements across 5,200 square kilometres in the under explored eastern region of the basin.
The company has intersected the Moranbah Coal Measures at Rockwood, with multiple coal seams presenting including some shallow seams.
Recent drilling and coal analysis along with results from a number of surveys could indicate Endocoal has discovered a new coal province on the eastern side of the Bowen Basin. An intensive exploration program started at Rockwood in April 2011 with drilling extending to 300 metres depth, intersecting more than 20 separate coal intersections.
Results of coal quality tests and potential end user assessments should be available by mid-November. The drilling program has increased Endocoal’s exploration footprint south and east of the original project area, and enabled significantly more coal to be included in the Resource, which previously stood at 51.6 million tonnes.
A 20 line kilometer seismic survey, along with aeromagnetic and close-spaced ground gravity surveys have confirmed the continuity of the geological structures being drilled.
These surveys have also identified similar structures elsewhere in the Rockwood tenement. Further exploration work will be undertaken in 2012 to expand the size of the Rockwood resource.
Endocoal is making the move from explorer to developer, with a mining lease application and bankable feasibility study for the first open cut project, Meteor Downs South, underway.
The company has not said whether these latest results will change its initial focus. Endocoal is also participating in the port expansion process at all three of the Northern ports.
sourced from proactiveinvestors
Endocoal has upgraded the resource for the Rockwood coal project in the Bowen Basin by 505% to 312.5 million tonnes, in what could turn out to be a company making project.
Endocoal has one of the largest landholdings in the Bowen Basin region, with 11 tenements across 5,200 square kilometres in the under explored eastern region of the basin.
The company has intersected the Moranbah Coal Measures at Rockwood, with multiple coal seams presenting including some shallow seams.
Recent drilling and coal analysis along with results from a number of surveys could indicate Endocoal has discovered a new coal province on the eastern side of the Bowen Basin. An intensive exploration program started at Rockwood in April 2011 with drilling extending to 300 metres depth, intersecting more than 20 separate coal intersections.
Results of coal quality tests and potential end user assessments should be available by mid-November. The drilling program has increased Endocoal’s exploration footprint south and east of the original project area, and enabled significantly more coal to be included in the Resource, which previously stood at 51.6 million tonnes.
A 20 line kilometer seismic survey, along with aeromagnetic and close-spaced ground gravity surveys have confirmed the continuity of the geological structures being drilled.
These surveys have also identified similar structures elsewhere in the Rockwood tenement. Further exploration work will be undertaken in 2012 to expand the size of the Rockwood resource.
Endocoal is making the move from explorer to developer, with a mining lease application and bankable feasibility study for the first open cut project, Meteor Downs South, underway.
The company has not said whether these latest results will change its initial focus. Endocoal is also participating in the port expansion process at all three of the Northern ports.
sourced from proactiveinvestors
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